The city of Marseille has extended its manager's contract for another five years and secured full transfer budget support.
The agreement was signed by the city's mayor, Vincent Delorque, and the club's president, Jean-Marc Aulas, at a ceremony held in the city's Stade de France stadium on Friday.
Delorque said: "This is a big step forward for the city of Marseille and for football in general."
Aulas added: "We have always been committed to investing in our youth and developing young talent, so this is a good sign for the future of football in Marseille."
The contract extension comes after Marseille struggled financially during the pandemic, with losses totalling €15 million in the previous season.
However, the club has made progress in recent months, with the signing of new players and the acquisition of experienced players such as Antoine Griezmann and Kylian Mbappé.
Delorque said: "We have made some significant steps towards improving the financial situation of the club."
He added that the club had already secured full transfer budget support from the French Football Federation (FFF), which means that it would not be affected by any changes in the budgetary rules set by FIFA.
Overall, the extension of the manager's contract and the full transfer budget support from the FFF will help Marseille to continue to grow and develop its youth academy, while also providing more stability and security for the club's finances.